Escudero: New Maharlika bill has better chances of getting Senate nod

Senator Francis ‘’Chiz’’ Escudero said on Saturday, April 1, that the latest version of the proposal seeking to create the Maharlika Investment Fund (MIF) has better chances of getting Senate approval following key changes in the bill. ManilaBulletin

Senator Francis ‘’Chiz’’ Escudero said on Saturday, April 1, that the latest version of the proposal seeking to create the Maharlika Investment Fund has better chances of getting Senate approval following key changes in the bill.

“As I stated from the beginning when we started to review the original bill filed by Senator Villar, we will provide a better version. I said then that the Senate counterpart will not be in the same shape, size, color or form because, as it was passed in the House , it clearly will not pass the Senate,” Escudero recalled.

One of the major improvements introduced to the measure via SB 2020 was to allow the Maharlika Investment Corporation to issue bonds. It is accompanied by provisions detailing the authorized and subscribed capital stocks to be created.• P375 billion worth of common stocks to be subscribed by the National Government ; and

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